Miskay quotes N2.12bn Commercial Paper on FMDQ Exchange

FMDQ Securities Exchange Limited (FMDQ) has approved the quotation of Miskay Boutique International Limited’s N280million Series 1 Tranche A, N820 million Series 1 Tranche B, and N1.02 billion Series 1 Tranche C Commercial Paper (CP) under its N5 billion CP Issuance Programme.

This approval by the Exchange’s Board Listings and Markets Committee underscores FMDQ Exchange’s pivotal role as a credible and transparent platform for short-term capital market financing, enabling companies of all sizes to access efficient liquidity solutions.

Miskay Boutique International Limited (Miskay) is a growing retail and fashion enterprise in Nigeria’s consumer goods sector. The company sources, distributes, and retails high-quality fashion merchandise, lifestyle products, and accessories to a broad customer base nationwide.

Proceeds from this CP issuance, sponsored by AIICO Capital Limited (Lead Sponsor), Apel Asset Limited, and Coremars Capital Limited, all Registration Members (Quotation) of FMDQ Exchange, will be deployed to optimise the Issuer’s working capital, bridge operational funding gaps, and strengthen its overall liquidity profile, thereby supporting Miskay’s near-term business objectives and ongoing growth.

Reacting to this quotation, Seun Akerele, Co- Founder, Miskay Boutique International Limited stated: “The successful redemption of our Series 1 Commercial Paper reflects the strength of the Miskay platform, the quality of execution across the business, and our unwavering commitment to meeting investor obligations. The business today is materially stronger, more structured, and significantly better positioned for scale than it was prior to the capital raise.

“We have strengthened inventory capacity, improved operational alignment across the business, expanded customer engagement, and resumed strategic expansion initiatives. As we move through Q2, Q3 and into the critical Q4 trading cycle, our focus remains firmly on disciplined execution, accelerated growth, margin expansion, and continued market leadership within the fast fashion segment.”

In the same vein, Femi Ademola, Managing Director, AIICO Limited stated: “AIICO Capital Limited, acting as Lead Issuing House is pleased to have advised Miskay Boutique International Limited on the successful quotation of its N2.12 billion Series 1 Tranches A, B and C Commercial Papers under its N5 billion Commercial Paper Programme on FMDQ Securities Exchange Limited.

The successful issuance reflects strong investor confidence in Miskay’s business and growth prospects, while highlighting the Nigerian debt capital market as an effective source of corporate funding.

Miskay promptly fulfilled its repayment obligation on the Series 1, Tranche A Commercial Paper and duly notified FMDQ Exchange in line with market best practices. This timely repayment demonstrates the Company’s creditworthiness and commitment to maintaining investor confidence.”

Commenting on the CP quotation, Tumi Sekoni, Group Chief Operating Officer, FMDQ Group Plc stated: “The quotation of the CPs on FMDQ Exchange reflects the continued broadening of Nigeria’s capital markets, and the critical role that short-term fixed income instruments play in providing efficient liquidity solutions for businesses across the economy.

“By facilitating access to the CP market for a growing enterprise such as Miskay Boutique International Limited, FMDQ Exchange reaffirms its commitment to making capital market financing accessible to corporate issuers at every stage of their growth. This transaction further underscores our resolve to provide a transparent, well-regulated, and inclusive marketplace that connects credible issuers with investors, while driving sustainable economic development across Nigeria,” she said.